Nickel

October natural gas is expected to open 5 cents lower Monday morning at $3.63 as traders assess a soft fundamental outlook and tropical threats diminish. Overnight oil markets plunged.

Cash natural gas prices fell a nickel overall Thursday as traders elected to get most of their deals done ahead of the usual volatility following the release of government inventory data.

Natural gas cash prices nationally added on average a nickel in Tuesday’s trading as traders are beginning to see the dynamic of warm weather generating additional power generation requirements from gas-fired plants.

Prices for Monday gas rose a nickel on average and market strength was most apparent at Midwest points as temperatures were forecast to plunge over the long weekend. Midwest strength was largely countered by weakness in the Gulf Coast and Rockies.

Cash market prices fell just over a nickel on average Wednesday as weakness at Northeast points led a broad retreat. Natural gas futures were even softer. At the close January futures had fallen 9.8 cents to $3.320 and February sank 8.9 cents to $3.366. January crude oil added $1.58 to $89.51/bbl.

Natural gas cash prices added a little more than a nickel on average Monday with most points following the stronger screen, but California quotes rose as a mini cold snap enveloped the area along with some temporary outages.

Cash prices overall rose more than a nickel on average Monday led by Northeast and Eastern points, but pricing points in the Midwest were almost entirely in the red — from a couple of pennies to more than a dime. At the close of trading January futures had fallen 9.1 cents to $3.46 and February also had dropped 9.1 cents to $3.487. January crude oil was down 37 cents to $85.56/bbl.

Cash natural gas prices fell by a nickel on average Tuesday as a handful of multi-dollar gains posted on Northeast pipes were unable to offset a broad retreat at Great Lakes, eastern and most other locations, as well as a weak screen. At the close of trading January futures had given up 5.2 cents to $3.539 and February had eased 5.3 cents to $3.562. January crude oil fell 59 cents to $88.50/bbl.

Physical gas prices overall on average rose a nickel Tuesday, continuing Monday’s stout advance. However, while a scattering of Gulf Coast points managed gains, hefty losses were noted in the Midwest, Great Lakes and in more than a handful of Northeast locations. Options strategies seemed to be in play for the December contracts, and at the close December futures had risen 3.9 cents to $3.769 and January was higher by 2.4 cents to $3.892. January crude oil fell 56 cents to $87.18/bbl.